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NOW, THBRBPORB, BB IT RBSOLVBD BY THB CITY COUNCIL OP <br />THB CITY OP ORONO IN A RB6ULAR MBBTING ASSBMBLBD, that the <br />assessments against any homestead property owned by a person 65 <br />years of age or older and for whom it would be a hardship to make <br />the payments, be deferred for a period of time not to exceed five <br />years subject to the aforementioned financial criteria, upon <br />submission of an appropriate application signed by the qualified <br />person, and which may upon expiration of initial or any <br />subsequent renewal deferments may be reapplied for, and subject <br />to the applicant meeting all the necessary criteria upon <br />reapplication be deferred for an additional period not to exceed <br />5 years; and <br />BB IT PORTHBR RESOLVED, that the right of deferment is <br />automatically terminated under Section 435.195 if; <br />1. The owner dies and the spouse is not otherwise <br />eligible; <br />2. The property or any part thereof is sold, transferred <br />or subdivided; <br />3. The property should lose its homestead status; or <br />4. If for any reason the City determines that there would <br />be no hardship to require immediate or partial payment. <br />Adopted by the City Council the the City of Orono, Minnesota at a <br />regular meetir? ‘eld August 24, 1992. <br />Barbar C* 4T1 •Peterson, Mayor <br />’‘'ttrsT : <br />Dorothy M. Hallin, City Clerk